equities

August 2020 in Figures

August 31, 2020

Financial markets in August experienced significant increases in share prices and 10-year sovereign debt yields and a pronounced further decline in the dollar’s external value. Central bank policy interest rates again held steady in the U.K., U.K., Switzerland, euro area and Japan but were lowered in several developing economy countries such as Mexico by 50 […] More

July 2020 in Figures

August 1, 2020

July was the weakest month for the dollar in practically ten years. The resulting improvement in U.S. price competitiveness resulted large U.S. equity price advances that were not experienced by European and Japanese stock markets. Dollar vulnerability also generated strong demand for gold, whose price soared nearly 10%. Late in the month gold briefly surpassed […] More

May 2020 in Review

May 30, 2020

With the central bank interest rates featured below already historically low, none as in April were lowered during May. Moreover the sharp declines of ten-year sovereign debt yields in April were partly reversed in several instances this past months. The talk of plans around the world to begin loosening stay-at-home restrictions lifted equity markets sharply, […] More

April 2020 in Figures

April 30, 2020

Imposed business shutdowns around the world in March had severely rattled financial market confidence, sending share prices sharply lower and the dollar significantly upward. The feared negative impact on economic data was visibly confirmed during April, but forward-looking investors found hope in the policy response of low interest rates and fiscal support. Although long-term interest […] More

March and First Quarter 2020 in Figures

March 31, 2020

Similar to February, the dollar’s net movements against the euro, yen, and  Swiss franc were an oasis of stability amid the continuing financial market drama elsewhere. For the whole first quarter, the dollar was particularly well-bid against sterling and commodity-sensitive currencies like the Australian, New Zealand, and Canadian dollars. For central bank watchers, March was […] More

December and 2019 in Figures

January 2, 2020

Equities performed spectacularly in 2019 as a whole and rose in December, too. Ten-year sovereign debt yields rose in December but fell in 2019. Three 25-basis point cuts were made in the federal funds target last year, reversing all by one of the four hikes done in 2018. Elsewhere, there was only a 10-basis point […] More

November 2019 in Figures

December 2, 2019

Share prices and 10-year sovereign debt yields climbed last month in most of the economies featured below. The dollar strengthened between 0.9% and 1.9% relative to the euro, yen, Swiss franc, loonie and Australian dollar but ended November with minimal net change against the kiwi, yuan or sterling. Central bank policy rates were not changed […] More

August in Figures

August 31, 2019

The most discussed financial market development of August is actually not depicted in the standard month in figures table below, and that was the inversion of the U.S. yield curve, which has been a pretty reliable leading indicator of a recession beginning 18-24 months later. Between the end of July and August 30th, the U.S. […] More

June and the Second Quarter in Figures

June 28, 2019

Although the major central banks did not change their key short-term interest rates in the second quarter, global disinflation and decelerating economic growth depressed expected inflation and fanned speculation that monetary policies will be eased later in 2019. This in turn put downward pressure on long-term interest rates but incentivized share prices to climb. President […] More

May 2019 in Figures

June 1, 2019

The month of May exemplified the global interdependence national financial markets, and the unifying force was rising risk aversion. Whereas equities had climbed broadly in April, all the ones shown below dropped just about as sharply in May. Likewise, climbing 10-year sovereign debt yields in April were reversed last month, and except in the case […] More

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